Latest news with #CessnaCaravans
Business Wire
28-05-2025
- Business
- Business Wire
Surf Air Mobility Announces $1 Million Purchase of Company Stock by Co-Founder
LOS ANGELES--(BUSINESS WIRE)--Surf Air Mobility Inc. (NYSE: SRFM) ('the Company', 'Surf Air Mobility'), a leading regional air mobility platform, announced that Co-Founder and Member of the Board, Sudhin Shahani, purchased 408,163 shares of the Company's common stock at the market price, for a purchase price of approximately $1 million, directly from the Company in a private transaction. Mr. Shahani said: "Our Transformation Plan is already having an early impact. We've improved operations and strengthened the core business. I'm confident in our experienced leadership team's continued execution capabilities." The Company remains focused on the Optimization Phase of the Transformation Plan with key initiatives to optimize airline operations, recalibrate the On Demand business, and drive efficiencies from SurfOS. About Surf Air Mobility Surf Air Mobility is a Los Angeles-based regional air mobility platform and one of the largest commuter airlines in the U.S. by scheduled departures. It is also the largest U.S. passenger operator of Cessna Caravans. In addition to its airline operations and On Demand charter services, Surf Air Mobility is developing an AI-powered software platform for the Regional Air Mobility industry. The company is also working to commercialize electrified aircraft and developing proprietary powertrain technology for the Cessna Caravan. Surf Air Mobility plans to offer its software and electrification solutions to the Regional Air Mobility industry to improve safety, efficiency, and profitability. Forward-Looking Statements This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Surf Air's profitability and future financial results and its ability to achieve its business objectives. Readers of this release should be aware of the speculative nature of forward-looking statements. These statements are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company and reflect the Company's current views concerning future events. As such, they are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: Surf Air's ability to anticipate the future needs of the air mobility market; Surf Air's future ability to pay contractual obligations and liquidity will depend on operating performance, cash flow and ability to secure adequate financing; the dependence on third-party partners and suppliers for the components and collaboration in Surf Air's development of its advanced air mobility software platform, and any interruptions, disagreements or delays with those partners and suppliers; the inability to execute business objectives and growth strategies successfully or sustain Surf Air's growth; the inability of Surf Air's customers to pay for Surf Air's services; the inability of Surf Air to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against Surf Air, the risks associated with Surf Air's obligations to comply with applicable laws, government regulations and rules and standards of the New York Stock Exchange; and general economic conditions. These and other risks are discussed in detail in the periodic reports that the Company files with the SEC, and investors are urged to review those periodic reports and the Company's other filings with the SEC, which are accessible on the SEC's website at before making an investment decision. The Company assumes no obligation to update its forward-looking statements except as required by law.
Business Wire
14-05-2025
- Business
- Business Wire
Surf Air Mobility to Present at the Third Annual Jefferies eVTOL / AAM Summit
LOS ANGELES--(BUSINESS WIRE)--Surf Air Mobility Inc. (NYSE: SRFM) ('Surf Air Mobility'), a leading regional air mobility platform, today announced that CEO and COO Deanna White and co-founder Sudhin Shahani will present at the Jefferies eVTOL / AAM Summit on Wednesday, May 28, 2025, at 1:20 PM ET. Surf Air Mobility is a Los Angeles-based regional air mobility platform and one of the largest commuter airlines in the U.S. by scheduled departures. It is also the largest U.S. passenger operator of Cessna Caravans. In addition to its airline operations and On Demand charter services, Surf Air Mobility is developing an AI-powered software platform for the Regional Air Mobility industry. The company is also working to commercialize electrified aircraft and developing proprietary powertrain technology for the Cessna Caravan. Surf Air Mobility plans to offer its software and electrification solutions to the Regional Air Mobility industry to improve safety, efficiency, and profitability.
Yahoo
02-05-2025
- Business
- Yahoo
Surf Air Mobility to Announce First Quarter 2025 Financial Results on May 13, 2025
LOS ANGELES, May 02, 2025--(BUSINESS WIRE)--Surf Air Mobility Inc. (NYSE: SRFM) ("Surf Air Mobility"), a leading regional air mobility platform, today announced that it will release its first quarter 2025 financial results after market close on Tuesday, May 13, 2025, and will host a webcast at 5:00 pm ET the same day. Interested parties can register in advance to listen to the webcast here or can find a link on the 'Events & Presentations' section of our investor relations website. Alternatively, listeners may dial into the call as follows:North America - Toll-Free (800) 715-9871International (Toll) - (646) 307-1963Conference ID: 4775356 About Surf Air Mobility Surf Air Mobility is a Los Angeles-based regional air mobility platform and one of the largest commuter airlines in the U.S. by scheduled departures. It is also the largest U.S. passenger operator of Cessna Caravans. In addition to its airline operations, Surf Air Mobility is developing an AI-powered software platform for the Regional Air Mobility industry. The company is also working to commercialize electrified aircraft and creating proprietary powertrain technology for the Cessna Caravan. Surf Air Mobility plans to offer its software and electrification solutions to the Regional Air Mobility industry, with the aim to improve safety, efficiency, and profitability. View source version on Contacts Surf Air Mobility Media Contacts Press: press@ Investors: investors@
Business Wire
02-05-2025
- Business
- Business Wire
Surf Air Mobility to Announce First Quarter 2025 Financial Results on May 13, 2025
LOS ANGELES--(BUSINESS WIRE)--Surf Air Mobility Inc. (NYSE: SRFM) ('Surf Air Mobility'), a leading regional air mobility platform, today announced that it will release its first quarter 2025 financial results after market close on Tuesday, May 13, 2025, and will host a webcast at 5:00 pm ET the same day. Interested parties can register in advance to listen to the webcast here or can find a link on the ' Events & Presentations ' section of our investor relations website. Alternatively, listeners may dial into the call as follows: North America - Toll-Free (800) 715-9871 International (Toll) - (646) 307-1963 Conference ID: 4775356 About Surf Air Mobility Surf Air Mobility is a Los Angeles-based regional air mobility platform and one of the largest commuter airlines in the U.S. by scheduled departures. It is also the largest U.S. passenger operator of Cessna Caravans. In addition to its airline operations, Surf Air Mobility is developing an AI-powered software platform for the Regional Air Mobility industry. The company is also working to commercialize electrified aircraft and creating proprietary powertrain technology for the Cessna Caravan. Surf Air Mobility plans to offer its software and electrification solutions to the Regional Air Mobility industry, with the aim to improve safety, efficiency, and profitability.
New York Times
19-03-2025
- General
- New York Times
Small Plane That Crashed in Alaska Was a Half-Ton Overweight, U.S. Says
A small plane that crashed in Alaska last month, killing all 10 people on board, was a half-ton overweight for the icy weather conditions under which it was flying, federal investigators said in their initial report on Wednesday. The plane, which disappeared on Feb. 6 and was found the next day near the western coast of Alaska, was on a regularly scheduled afternoon flight between Unalakleet and Nome, a trip of about 150 miles. Bering Air Flight 445 vanished about 10 minutes before it was set to arrive in Nome, according to the U.S. Coast Guard. When its position was lost, the aircraft was 12 miles offshore, it said. After studying the baggage and cargo that was found, investigators with the National Transportation Safety Board determined that the weight of the plane at takeoff was about 1,000 pounds over the maximum takeoff weight for a flight heading into forecast or known icing conditions, according to guidelines. It was also about 800 pounds over the maximum takeoff weight for any flight operation, the investigators said in the nine-page report. Excessive weight reduces flight performance, aviation experts say, in almost every aspect. Weather conditions in the region between Unalakleet and Nome included snow, fog and low temperatures on the afternoon of the Feb. 6 takeoff. A radar analysis showed that the Bering flight, a Cessna 208B Caravan, experienced 'a rapid loss of altitude' and a 'corresponding rapid loss in speed,' the Coast Guard said in February. Before the plane disappeared, the pilot told air traffic control in Anchorage that he had intended to enter a holding pattern while waiting for the runway in Nome to be cleared, according to the Nome Volunteer Fire Department. Then the plane lost contact. A pilot and nine passengers were on board the flight, said David Olson, the director of operations for Bering Air. Their Cessna Caravans are allowed to carry as many as nine passengers and two crew members, according to the Federal Aviation Administration. Bering Air did not immediately return inquiries for comment on Wednesday. The N.T.S.B. investigation is continuing. Accident investigations typically take one to two years to complete, according to the agency. More than 80 percent of communities in Alaska are inaccessible by road, according to the Alaska Transportation Department. Air connections, like those operated by regional carriers such as Bering Air, are critical for delivering supplies like fuel and food. Bering Air is based in Nome, with hubs in Kotzebue and Unalakleet, and operates flights to 32 destinations, according to its website. Nome is home to about 3,500 people, and Unalakleet about 800. The Bering Air crash was the third involving an airline flight in the United States during an eight-day stretch from late January into early February. An Army helicopter collided with an American Airlines jet over the Potomac River on Jan. 29 as the jetliner approached Ronald Reagan National Airport, near Washington D.C., killing 67 people. Two days later, a small medical plane carrying six people crashed near a shopping center in northeast Philadelphia on Jan. 31, killing everyone on board and one person on the ground, and sending a large fireball into the air that engulfed homes and vehicles in flames.
